Boin Daily

01-23 05:39

"The following day I would have been stopped out at the open. I would have lost one tick on my first contract and two ticks on my second. I would have been down $68.

"The subsequent correction broke through where the trend line would have been, thereby ending the series, but leaving behind a Ross hook at point F.

"I would now have been without a trend line, but day G would have taken out the Ross hook at point F, and so I would have been short one contract. At the close I was showing profits of $120. I then would move my stop to a point at which I would be able to salvage at least 50% of my unrealized paper profits.

"I would have been stopped out the following day at the open with a five tick profit, or $30. Subtracting costs would have left me with a $20 loss. I would have then been down $88.

"Day H would have seen me short again as prices took out the Ross hook created by the failure of the previous day to make a new low.

"By the time of the close, I would have had $103 in profits, so I would have moved my protective stop to protect 50% of those profits.

B01N DAILY 1991 1991 1991 1991 5148 35372

Budgeting Tips For Families

Budgeting Tips For Families

Learning all about budgeting strategies for busy families can have amazing benefits for your life and finances. Learn financial control with less effort and more results.

Get My Free Ebook


Post a comment